Business Licence Renewal Extension of Time

The TCI Government announced a number of measures in response to and contained in its Co Vid 19 Stimulus Package.

Under the provisions of the Emergency Powers (COVID-19) (Economic Relief Measures) Regulations 2020 (hereinafter the Regulations), has approved an extension of the grace period to renew 2020/2021 Business Licences on or before 31st July, 2020 without penalty.

Persons who wish to make payments for Business Licence renewal or make an application for a new Business Licence during the mandated shutdown, can do so by submitting the requisite documentation to This email address is being protected from spambots. You need JavaScript enabled to view it.

The following outlines the process for payment:

  • Obtain Business Licence receipt voucher from designated Revenue Department officer;
  • Make electronic transfer online to any of the various Treasury accounts:
    • CIBC FCIB Account #1575027, Name-Treasury
    • SCOTIA BANK Account #000754415, Transit 94045, Name – Turks and Caicos Islands Government
    • RBC Account# 4020087, Transit 05395, Name- Turks and Caicos Gov;
  • Email copy of receipt voucher along with proof of payment to This email address is being protected from spambots. You need JavaScript enabled to view it..

Once Treasury has verified your payment a confirmation email will be sent.

The Revenue Department wishes for you to remain safe during this time and looks forward to your continued cooperation.

 

Temporary Provisions for Tax Payments

In light of the Covid-19 24-hour curfew, the Revenue Department within the Ministry of Finance hereby notifies the general public that despite provisions made for the waiver and delayed payment of the Hotel & Tourism Tax, no such provision has been made for the following Taxes:

  • Vehicle Hire Stamp Duty
  • Insurance Premium Sales Tax
  • Domestic Financial Services Sales Tax
  • Communications Tax
  • Dormant Accounts Receipts

As such, the Revenue Department will be issuing Remittance Forms as requested through our Email: This email address is being protected from spambots. You need JavaScript enabled to view it. for payments on or before the deadlines prescribed in the relevant Ordinances.

This is further facilitated by the provisions made by the Accountant General to receive ‘Online Payments’ via transfers through CIBC First Caribbean Int Bank, Scotiabank and Royal Bank of Canada.  The notice is attached for review.

Taxpayers must obtain and complete their remittances from the Revenue Department trough the Email address provided before proceeding to payment.

Customers are reminded to be safe during this time.

 

Hotel, Restaurant & Tourism Tax Waiver

The TCI Government announced a number of measures in response to and contained in its COVID- 19 Stimulus Package.

Under the Emergency Powers (COVID-19) (Economic Relief Measures) Regulations 2020 (hereinafter the Regulations), the Government has approved the following:

  • The payment of any tax (accommodation tax) which is due and payable on the 21st April 2020, in accordance with section 13 (1) of the Hotel, Restaurant & Tourism Tax Ordinance (hereinafter HRTT) is hereby waived; and
  • The payment of any tax (accommodation tax) which is due and payable on 21st May 2020 and 21st June 2020, in accordance with section 13 (1) of the HRTT has be deferred until 21st July 2020.

Note that under section 4(2) of the Regulations no penalty shall be incurred in respect of the payment of taxes under sub-regulation (1)(b) if the taxes are paid in full on or before 21st July 2020. 

In order to take advantage of the waiver, taxpayers are required to provide the Revenue Department with the following information which has to be submitted to This email address is being protected from spambots. You need JavaScript enabled to view it.:

  1. Completed Tax Waiver Request (TWR-2020) form;
  2. Provide proof that a remittance of tax was made during March 2020; and
  3. Provide proof of the number of employees currently on full pay, terminated or on reduced hours.

Kindly note, tax data submitted will be subject to Audit verification, by the Revenue Department, at a later date. Additionally, taxpayers will be required to provide a detailed written submission, by the end of July 2020, on how the HRTT waiver provided was utilized.

Lastly, although the waiver and deferral of the HRTT has been granted, Taxpayers are reminded that in accordance with section 24 (1) of the HRTT Legislation taxpayers are still required to remit tax data to the Revenue Department on the monthly return form.

The Revenue Department wishes for you to remain safe during this time and looks forward to your continued cooperation.

The Department is available to answer any queries and can be contacted at This email address is being protected from spambots. You need JavaScript enabled to view it. .

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